508.34  Required to be separate company.

Any subsidiary company shall be a separate and distinct company, with neither the organizing or acquiring life company nor such subsidiary having any liability to the creditors, policyholders or stockholders, if any, of the other. The organizing or acquiring company may be either a mutual or stock company.

Section History: Early form

  [C66, 71, 73, 75, 77, 79, 81, § 508.34]

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